Bureau Veritas Acquires LBS Group to Strengthen Luxury Fashion Services and Sustainability
Bureau Veritas, a global leader in testing, inspection, and certification services, has acquired LBS Luxury Brands Services S.R.L. Group, a laboratory specializing in quality control for the luxury fashion industry. This acquisition is part of Bureau Veritas’ broader strategy under its LEAP | 28 plan, aimed at strengthening its services in the luxury fashion sector, especially in leather goods and footwear, while enhancing its supply chain solutions and expanding its presence in the Italian market, reported by Business Wire.
The acquisition marks a significant step for Bureau Veritas’ consumer products services division. By adding LBS Group’s expertise, particularly in the accessories sector, the company is better positioned to provide end-to-end services to high-end fashion brands. This will enhance its capabilities in quality assurance and sustainability, key areas of focus for the luxury fashion industry.
“Merger and acquisition is an essential component of Bureau Veritas’ LEAP | 28 strategy. With the acquisition of LBS Group, Bureau Veritas has closed ten acquisitions since the beginning of the year,” said Hinda Gharbi, CEO of Bureau Veritas. “LBS Group’s capabilities in quality assurance strengthen our presence in upstream services for the luxury sector. It positions Bureau Veritas as a preferred partner in the luxury industry assurance market for the world’s leading brands. I am delighted to welcome all our new colleagues from LBS Group to Bureau Veritas.”
Founded in 2013, LBS Group has become a trusted partner for luxury and premium brands, offering laboratory testing and supply chain quality management services. LBS is particularly known for its expertise in accessories, metal hardware, and raw materials, and is committed to sustainability by improving production processes to reduce defects. The company generated €8.8 million in revenue in 2023, supported by a dedicated team of over 100 specialists operating near key European production hubs.
Luca Cartocci, CEO and founder of LBS Group, expressed his enthusiasm for the acquisition: “All our team members are honored to join Bureau Veritas’ global network, which is well positioned for growth into the luxury segment with huge market potential to expand our unique and innovative solutions as well as our shared values of integrity and high level of service delivery.”
He added, “Joining forces with Bureau Veritas will create a global integrated platform experience that can flexibly and expertly assist the fashion industry in the premium and luxury segments in corporate compliance, global market access, supply chain compliance, production quality assurance, and sustainability solutions.”
This acquisition underscores Bureau Veritas’ commitment to providing comprehensive services for the luxury fashion industry, further solidifying its role as a global leader in supply chain quality and sustainability solutions.